REPORT: 60% Of The Greek Bondholders Will Participate In The Debt Swap

Economists are increasingly confident that the number will eventually clear the 66 percent hurdle, which is needed to activate the collective action clause (CAC). The CAC would force the balance of bondholders to go along with whatever the majority agrees to.

However, questions remain on whether or not the use of CACs would or should activate the credit default swaps tied to the Greek bonds in question.